Globalfoundries cutting 5% of staff

June 14, 2018 //
By Peter Clarke

Globalfoundries Inc. is planning to lay off about 900 people out of its 18,000 work force according to reports.

The lay-offs are planned to take place mainly in Europe and the US one report said with implications that it would mainly impact Dresden, Germany – and Burlington, Vermont, a plant that came to the company with the acquisition of IBM Microelectronics in 2015. However, some of Globalfoundries oldest technologies and manufacturing sites are in Singapore.

Reportedly, the company remains committed to delivering its dual road-map of FinFET and FDSOI manufacturing processes and the trimming is intended to improve the company's cost structure. The company added that advanced manufacturing at Fab 8 in Malta and the introduction of a 7nm manufacturing process remain on schedule.

The company replaced its CEO earlier this year and the incoming CEO, Thomas Caulfield, may be seeking to clear the decks.

However, the private company, which is backed by Abu Dhabi's sovereign wealth fund – Mubadala Investment Company – is thought to be struggling against its rival pure-play foundry TSMC at the leading edge. The company reportedly made a loss of $522 million in the first half of 2017 and has sought investigations of TSMC by the authorities for alleged monopolistic behaviour.

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